The study by marketing training hub School of Marketing analysed the latest ONS data on the number of new businesses and closing businesses.

It found that the Cardiff area was the best place to start a business. 2021 saw 72.14% higher business openings than closures, with 3,460 new businesses in the region compared to 2,010 shutting down. This meant that for every 10 businesses that died, roughly 17 new ones started.

Mansfield came second, with 625 new businesses in the area compared to the 380 that closed in 2021, which meant that for every 10 businesses that closed, around 16 more were started. The 260 new businesses in the third quarter of 2021 was not only the highest post-pandemic statistic but also the highest since 2017.